A couple of important steps for you to take are as follows:
1. The Contract: Obtain a copy of the auction contract from the agent and bring it to our office to ensure that there is nothing unusual and that the contract terms are fair. We can also ensure that you understand any restrictions, easements or covenants attached to the property and we will also point out the location of those easements and restrictions and also the location of the sewer lines. We can also request amendments to the contract (ie suitable completion date, 5% deposit) if you are the successful bidder.
2. Finance: You should speak with your Banker to ensure that you have your finances in place to enable you to complete the sale. Remember, you will pay
a deposit on the day of the auction and if your finance is not approved you risk losing that deposit if you cannot complete.
3. Due Diligence: Ensuring that the property is free from any pest infestations and/ or building or other defects is essential before bidding at the auction. We can assist you with obtaining your pest and building reports or any other reports you may require.
4. Pre-auction: If, when you have carried out the above steps, and prior to the date of the auction we can assist you if you would like to place a pre-auction offer to the Vendor.
5. Auction: Please be aware that if you are the successful bidder at the auction you will be bound from that date as a Purchaser does not have any cooling off rights if purchasing a property at auction.
Please contact Grant Chamberlain, Lachlan Patterson or Karen Herrmann at Garden & Montgomerie on 6344 1507 if you have any questions or require any assistance.